ELECTRO TECHNICS BILZEN
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 26-06-2026 at the NBB all 22 filings
Turnover
€3.4m
EBIT margin
1.7%
Net result
€274,372▲ 260%
2024 · €76,262
Working capital
€81,858
2024 · -€155,756
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
no figure
2025
20182025
Operating result
€421,014
▲ 120%
2025
20182025
Net result
€274,372
▲ 260%
2025
highest quarter of the sector
20182025
EBIT margin
no figure
2025
20182025
Equity
€670,488
▲ 69.3%
2025
highest quarter of the sector
20182025
Total assets
€1.8m
▲ 6.6%
2025
highest quarter of the sector
20182025
Debt
€1.2m
▼ 11.9%
2025
20182025
Working capital
€81,858
2025
middle half of the sector
20182025
Solvency
36.2%
▲ 13.4pp
2025
middle half of the sector
20182025
Current ratio
1.09
▲ 0.23
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
14.8%
▲ 10.4pp
2025
highest quarter of the sector
20182025
Staff (FTE)
6.3
▼ 7.4%
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€3.4m
Operating result€0.03m-€0.05m▲ 73.2%€0.06m▲ 24.1%€0.04m▼ 32.7%€0.005m▼ 88.4%€0.07m▲ 17×€0.2m▲ 155%€0.4m▲ 120%
Net result-€0.04m-€0.007m€0.02mwithin the sector's middle half▲ 143%€0.008mwithin the sector's middle half▼ 52.1%-€0.02mbelow the sector's middle half€0.02mwithin the sector's middle half€0.08mwithin the sector's middle half▲ 311%€0.3mabove the sector's middle half▲ 260%
EBIT margin1.7%
Equity€0.3m-€0.3m▲ 2.5%€0.3mwithin the sector's middle half▲ 6.0%€0.3mwithin the sector's middle half▲ 2.7%€0.3mwithin the sector's middle half▼ 5.9%€0.3mwithin the sector's middle half▲ 6.2%€0.4mwithin the sector's middle half▲ 23.8%€0.7mabove the sector's middle half▲ 69.3%
Total assets€2.0m-€1.8m▼ 9.4%€1.9mabove the sector's middle half▲ 4.6%€2.0mabove the sector's middle half▲ 5.4%€2.1mabove the sector's middle half▲ 5.2%€2.1mabove the sector's middle half=€1.7mabove the sector's middle half▼ 15.8%€1.8mabove the sector's middle half▲ 6.6%
Debt€1.7m-€1.5m▼ 11.5%€1.5m▲ 4.3%€1.6m▲ 5.9%€1.8m▲ 7.4%€1.7m▼ 1.1%€1.3m▼ 23.1%€1.2m▼ 11.9%
Working capital-€0.4m--€0.3m▲ 17.2%-€0.07mbelow the sector's middle half▲ 80.4%-€0.1mbelow the sector's middle half▼ 91.2%-€0.2mbelow the sector's middle half▼ 37.6%-€0.2mbelow the sector's middle half▼ 6.5%-€0.2mbelow the sector's middle half▲ 15.8%€0.08mwithin the sector's middle half
Solvency14.6%-16.5%▲ 1.9pp16.8%below the sector's middle half▲ 0.2pp16.3%below the sector's middle half▼ 0.4pp14.6%below the sector's middle half▼ 1.7pp15.5%below the sector's middle half▲ 0.9pp22.8%below the sector's middle half▲ 7.3pp36.2%within the sector's middle half▲ 13.4pp
Current ratio0.66-0.69▲ 0.020.93below the sector's middle half▲ 0.250.89below the sector's middle half▼ 0.040.87below the sector's middle half▼ 0.020.87below the sector's middle half=0.85below the sector's middle half▼ 0.011.09below the sector's middle half▲ 0.23
Return on assets (ROA)-2.1%-0.4%▲ 2.5pp0.9%below the sector's middle half▲ 0.5pp0.4%below the sector's middle half▼ 0.5pp-0.9%below the sector's middle half▼ 1.4pp0.9%below the sector's middle half▲ 1.8pp4.4%within the sector's middle half▲ 3.5pp14.8%above the sector's middle half▲ 10.4pp
Staff (FTE)15.1-10.9▼ 27.8%15.1above the sector's middle half▲ 38.5%9.7within the sector's middle half▼ 35.8%9.5within the sector's middle half▼ 2.1%8.8within the sector's middle half▼ 7.4%6.8within the sector's middle half▼ 22.7%6.3within the sector's middle half▼ 7.4%
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 120% higher than in 2024 and the highest since 2021. It is the third rise in a row, after the fall in 2022.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.8m
Fixed assets
€807,435 ▼ 3.6%
Current assets
€1.0m ▲ 16.0%
Equity and liabilities €1.8m
Equity
€670,488 ▲ 69.3%
Debt
€1.2m ▼ 11.9%
Debt's share of the balance-sheet total falls from 77.2% to 63.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€459,337▲
2024 · €232,676
Cash flow
€312,694▲
2024 · €117,885
Quick ratio
0.64▲
2024 · 0.61
Debt to equity
1.76▼
2024 · 3.38
ROE
40.9%▲
2024 · 19.3%
Interest coverage
9.27▲
2024 · 2.91
Debt ≤ 1 year
€960,608▼
2024 · €1.1m
Debt > 1 year
€218,805▼
2024 · €285,322
Income taxes
€97,114▲
2024 · €35,149
Staff costs
€421,530▼
2024 · €470,094
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 9 | 10 | 8 | 6 | 7 |
| full-time | 9 | 10 | 8 | 6 | 7 |
| in full-time equivalents | 9 | 10 | 8 | 6 | 7 |
| Average over the year, in full-time equivalents | 9.7 | 9.5 | 8.8 | 6.8 | 6.3 |
| On a permanent contract | 8 | 10 | 8 | 6 | 7 |
| Joined | 10 | 8 | 2 | 0 | 1 |
| Left | 15 | 7 | 4 | 2 | 0 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €42,283 | €19,950 | €1,096 | €20,495 | €8,563 |
| Depreciation and write-downs of the year | €40,548 | €42,249 | €43,657 | €41,623 | €38,322 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | €3.4m | - | - | - | - | - | - |
| Non-recurring operating income76A | - | - | - | €0.004m | €0.02m | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €0.5m | €0.5m | €0.5m | €0.5m | €0.4m | ▼ 10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.1m | €0.06m | €0.05m | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | ▼ 7.9% |
| Other operating charges640/8 | - | - | - | €0.01m | €0.01m | €0.02m | €0.01m | €0.03m | ▲ 128% |
| Non-recurring operating charges66A | - | - | - | - | - | - | - | €296 | - |
| Gross operating margin9900 | €1.2m | €0.7m | €0.8m | €0.6m | €0.6m | €0.6m | €0.7m | €0.9m | ▲ 27.2% |
| Operating profit (loss)9901 | €0.03m | €0.05m | €0.06m | €0.04m | €0.005m | €0.07m | €0.2m | €0.4m | ▲ 120% |
| Financial income75/76B | - | - | - | €443 | €0.003m | €260 | €292 | €0 | ▼ 100.0% |
| Recurring financial income75 | €0.001m | €176 | €70 | €443 | €0.003m | €260 | €292 | €0 | ▼ 100.0% |
| Financial charges65/66B | - | - | - | €0.02m | €0.03m | €0.04m | €0.08m | €0.05m | ▼ 38.0% |
| Recurring financial charges65 | €0.04m | €0.02m | €0.03m | €0.02m | €0.03m | €0.04m | €0.08m | €0.05m | ▼ 38.0% |
| Profit (loss) for the period before taxes9903 | -€0.02m | €0.02m | €0.03m | €0.02m | -€0.02m | €0.04m | €0.1m | €0.4m | ▲ 233% |
| Income taxes67/77 | €0.02m | €0.02m | €0.01m | €0.009m | €0.001m | €0.02m | €0.04m | €0.1m | ▲ 176% |
| Profit (loss) for the period9904 | -€0.04m | €0.007m | €0.02m | €0.008m | -€0.02m | €0.02m | €0.08m | €0.3m | ▲ 260% |
| Profit (loss) for the period to be appropriated9905 | -€0.04m | €0.007m | €0.02m | €0.008m | -€0.02m | €0.02m | €0.08m | €0.3m | ▲ 260% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €2.0m | €1.8m | €1.9m | €2.0m | €2.1m | €2.1m | €1.7m | €1.8m | ▲ 6.6% |
| Fixed assets21/28 | €1.2m | €1.0m | €1.0m | €0.9m | €0.9m | €0.9m | €0.8m | €0.8m | ▼ 3.6% |
| Tangible fixed assets22/27 | €1.0m | €1.0m | €1.0m | €0.9m | €0.9m | €0.9m | €0.8m | €0.8m | ▼ 3.6% |
| Land and buildings22 | - | - | - | €0.9m | €0.8m | €0.8m | €0.8m | €0.8m | ▼ 3.4% |
| Plant, machinery and equipment23 | - | - | - | €0.02m | €0.02m | €0.01m | €0.01m | €0.009m | ▼ 17.9% |
| Furniture and vehicles24 | - | - | - | €0.03m | €0.04m | €0.02m | €0.01m | €0.01m | ▲ 1.1% |
| Financial fixed assets28 | €0.2m | €0.09m | - | - | - | - | - | - | - |
| Current assets29/58 | €0.8m | €0.7m | €0.9m | €1.0m | €1.2m | €1.2m | €0.9m | €1.0m | ▲ 16.0% |
| Amounts receivable after more than one year29 | - | - | - | €0.06m | €0.04m | €0.03m | - | - | - |
| Trade receivables290 | - | - | - | €0.06m | €0.04m | €0.03m | - | - | - |
| Stocks and contracts in progress3 | €0.1m | €0.2m | €0.2m | €0.2m | €0.3m | €0.3m | €0.3m | €0.4m | ▲ 67.8% |
| Stocks30/36 | - | - | - | €0.2m | €0.3m | €0.3m | €0.3m | €0.4m | ▲ 67.8% |
| Amounts receivable within one year40/41 | €0.6m | €0.5m | €0.7m | €0.6m | €0.7m | €0.8m | €0.4m | €0.5m | ▲ 11.3% |
| Trade receivables40 | - | - | - | €0.5m | €0.6m | €0.7m | €0.3m | €0.4m | ▲ 19.7% |
| Other amounts receivable41 | - | - | - | €0.09m | €0.1m | €0.1m | €0.1m | €0.08m | ▼ 15.7% |
| Cash at bank and in hand54/58 | €0.01m | €0.08m | €0.006m | €0.2m | €0.1m | €0.03m | €0.2m | €0.1m | ▼ 37.2% |
| Deferred charges and accrued income490/1 | - | - | - | €0.004m | €0.005m | €0.01m | €0.006m | €0.005m | ▼ 6.9% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €2.0m | €1.8m | €1.9m | €2.0m | €2.1m | €2.1m | €1.7m | €1.8m | ▲ 6.6% |
| Equity10/15 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.4m | €0.7m | ▲ 69.3% |
| Contributions10/11 | €0.02m | €0.02m | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.08m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.4m | €0.7m | ▲ 72.7% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Distributable reserves133 | - | - | - | €0.3m | €0.3m | €0.3m | €0.4m | €0.7m | ▲ 73.0% |
| Profit (loss) carried forward14 | €0.2m | - | - | - | - | - | - | - | - |
| Amounts payable17/49 | €1.7m | €1.5m | €1.5m | €1.6m | €1.8m | €1.7m | €1.3m | €1.2m | ▼ 11.9% |
| Amounts payable after more than one year17 | €0.5m | €0.4m | €0.5m | €0.5m | €0.4m | €0.4m | €0.3m | €0.2m | ▼ 23.3% |
| Financial debts170/4 | - | - | - | €0.5m | €0.4m | €0.4m | €0.3m | €0.2m | ▼ 23.3% |
| Amounts payable within one year42/48 | €1.2m | €1.1m | €1.0m | €1.2m | €1.3m | €1.4m | €1.1m | €1.0m | ▼ 8.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.06m | €0.07m | €0.07m | €0.07m | €0.07m | ▼ 4.0% |
| Financial debts43 | - | - | - | €0.3m | €0.3m | €0.2m | €0.2m | - | - |
| Credit institutions430/8 | - | - | - | €0.3m | €0.3m | €0.2m | €0.2m | - | - |
| Trade debts44 | €0.8m | €0.6m | €0.7m | €0.8m | €0.8m | €1.0m | €0.7m | €0.5m | ▼ 31.7% |
| Suppliers440/4 | - | - | - | €0.8m | €0.8m | €1.0m | €0.7m | €0.5m | ▼ 31.7% |
| Taxes, remuneration and social security45 | - | - | - | €0.02m | €0.03m | €0.03m | €0.07m | €0.1m | ▲ 88.9% |
| Taxes450/3 | - | - | - | €0.009m | €0.009m | €0.02m | €0.03m | €0.08m | ▲ 124% |
| Remuneration and social security454/9 | - | - | - | €0.01m | €0.02m | €0.01m | €0.03m | €0.05m | ▲ 50.6% |
| Other amounts payable47/48 | - | - | - | €0.006m | €0.1m | €0.07m | €0.06m | €0.3m | ▲ 465% |
| Accrued charges and deferred income492/3 | - | - | - | - | €0 | €0 | €0 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€41,439 | €7,269 | €17,660 | €8,460 | -€18,957 | €18,544 | €76,262 | €274,372 | ▲ 260% |
| + Depreciation and write-downs630 | €95,532 | €59,551 | €50,649 | €40,548 | €42,249 | €43,657 | €41,623 | €38,322 | ▼ 7.9% |
| Operating cash flow (approximation) | €54,092 | €66,820 | €68,309 | €49,009 | €23,291 | €62,202 | €117,885 | €312,694 | ▲ 165% |
| Investment in fixed assets (approximation) | - | €59,786 | €42,567 | -€14,463 | -€17,251 | -€1,096 | -€20,495 | -€8,563 | ▲ 58.2% |
| Change in cash | - | €69,481 | -€76,471 | €147,555 | -€20,840 | -€99,196 | €176,184 | -€78,148 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 31,368 companies had the same profile as ELECTRO TECHNICS BILZEN has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ELECTRO TECHNICS BILZEN itself: 0.5% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 31,368 companies, not a prediction for ELECTRO TECHNICS BILZEN. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 22 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 26-06-2026 | 2026-00203818 | |
| 31-12-2024 | abbreviated format | 16-06-2025 | 2025-00144753 | |
| 31-12-2023 | abbreviated format | 18-07-2024 | 2024-00268364 | |
| 31-12-2022 | abbreviated format | 20-07-2023 | 2023-00266187 | |
| 31-12-2021 | abbreviated format | 08-08-2022 | 2022-20276053 | |
| 31-12-2020 | abbreviated format | 29-06-2021 | 2021-27400422 | |
| 31-12-2019 | abbreviated format | 25-06-2020 | 2020-20900577 | |
| 31-12-2018 | abbreviated format | 26-07-2019 | 2019-38600504 | |
| 30-06-2017 | abbreviated format | 31-01-2018 | 2018-03800098 | |
| 30-06-2016 | abbreviated format | 31-01-2017 | 2017-03300284 |